Table Trac, Inc. Announces First Quarter 2013 Financial Results
For the three months ended March 31, 2013, revenues totaled $909,323 compared to $795,488 for 2012. For the three months ended March 31, 2013, the Company reported a loss from operations of $17,098 compared to a loss of $175,629 for 2012 and a net loss of $256 compared to a loss of $97,155 for 2012. The major components of revenues, cost of sales, and selling, general and administrative expenses are discussed in the 10Q.
The 10Q can be found @ http://www.sec.gov
MINNETONKA, Minn., May 14, 2013 /PRNewswire/ -- Table Trac, Inc. (OTCQB: TBTC), a developer and provider of casino information and management systems that automate and monitor the operations of casinos, today announced financial results for its first quarter of 2013.
First Quarter Highlights
In the first quarter 2013, Table Trac announced the signing of two contracts in California and provided casino management system equipment to an existing customer involved in a casino expansion and system upgrade. The announced California contract signings were with Iipay Nation of Santa Ysabel in North San Diego County and the Pit River Tribe's casino in Burney. At the end of the first quarter, both of these California casino management system installations were in backlog.
The Company also entered into contracts to deliver the CountR cash redemption kiosk product at two properties. These kiosks were delivered and installed in the second quarter of 2013.
At the end of the first quarter, the Company had its casino management systems and products operational in eight U.S. states, as well as in countries in Central and South America and the Caribbean.
The following table provides a reconciliation of the numerators and denominators used in calculating basic and diluted earnings per share for the three months ended March 31, 2013 and 2012:
| Three Months Ended March 31, |
||||
| 2013 |
2012 |
|||
| Basic earnings per share calculation: |
||||
| Net loss to common stockholders |
$ |
(256) |
$ |
(97,155) |
| Weighted average number of common shares outstanding |
4,759,805 |
4,704,305 |
||
| Basic net loss per share |
$ |
(0.00) |
$ |
(0.02) |
| Diluted earnings per share calculation: |
||||
| Net loss |
$ |
(256) |
$ |
(97,155) |
| Weighted average number of common shares outstanding |
4,759,805 |
4,704,305 |
||
| Common stock equivalents: |
||||
| Stock options |
(1) |
(1) |
||
| Weighted average diluted shares outstanding |
4,759,805 |
4,704,305 |
||
| Diluted net loss per share |
$ |
(0.00) |
$ |
(0.02) |
| (1) Stock options outstanding of 60,000 were not included in the calculation as they would have been anti-dilutive. |
||||
About Table Trac, Inc.
Founded in 1995, Table Trac, Inc. designs, develops and sells casino information and management systems. The company has systems installed in North, South, and Central America, as well as the Caribbean. More information is available at http://www.tabletrac.com/.
Forward Looking Statements
Statements made in this press release, including statements regarding events and financial trends that may affect our future operating results, financial position and cash flows, may constitute "forward-looking statements" within the meaning of the federal securities laws. These certain statements are based on our assumptions and estimates and are subject to risks and uncertainties. You can identify these forward-looking statements by words like "strategy," "expects," "plans," "believes," "will," "estimates," "intends," "projects," "goals," "targets" and other words of similar meaning. You can also identify them by the fact that they do not relate strictly to historical or current facts. For these statements, we claim the protection of the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995.
For further information on factors that could impact Table Trac and statements contained in this press release, reference should be made to Table Trac's filings with the Securities and Exchange Commission, including quarterly reports on Forms 10-Q, current reports on Form 8-K and annual reports on Form 10-K. You can access such filings at http://www.sec.gov.
For More Information
| Glenn Goulet, CEO |
|
| Table Trac, Inc. |
|
| Phone: (952) 548-8877 |
SOURCE Table Trac, Inc.
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